Value Performance of European Bank Acquisitions

B.W. Lensink; I. Maslennikova

doi:10.1080/09603100601018781

Value Performance of European Bank Acquisitions

B.W. Lensink, I. Maslennikova

Development Economics

Research output: Contribution to journal › Article › Academic › peer-review

18 Citations (Scopus)

Abstract

This article provides the first analysis of value gains to acquirers in the European bank M&A wave of 1996-2004. Using a sample of 75 publicly traded banks from 19 European countries, we document positive and statistically significant abnormal returns for the aggregate acquisition sample. Partitioning the sample with respect to product-market and geographic diversification indicates strong statistical evidence that all types of domestic deals as well as bank-to-bank cross-border deals create shareholder value. Gains to cross-border diversifying deals are insignificant.

Original language	English
Pages (from-to)	185-198
Journal	Applied Financial Economics
Volume	18
Issue number	3
DOIs	https://doi.org/10.1080/09603100601018781
Publication status	Published - 2008

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Value Performance of European Bank Acquisitions

Abstract

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